Reason why bitcoin won't last long (which are you afraid of?)

[yoshua27]

because bitcoin has no real value so that many people who do not believe in bitcoin value and make the value of bitcoin over time decreased continuously so for those who save it in case of decreasing bitcoin value continuously make big losses

[1713890091]

1713890091

[1713890091]

1713890091

[1713890091]

1713890091

[1713890091]

1713890091

[bigblackdeck45]

Bitcoin being volatile is one of the main reason why many people still won't invest in. They are scared that their money will be wasted. Also bitcoin being not yet widely accepted. Let's face it every cryptocurrency is at the mercy of the people supporting it. If the community behind bitcoin will not grow then that would be bad for bitcoin.

[iotarocket]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

Some of these things would be hard to correct, but a lot of it can be solved with second-layer infrastructure built on top of the blockchain. I am sure insurance and refunds can be built on top of the Lightning Network. The environmental cost of mining is a concern of mine, so I would like to see more renewable energy used to mine bitcoin.

[doroshok1]

I believe that this list is incomplete. But these are all possible reasons. And any point of course is possible, but unlikely. You have to be optimistic.

[MNtrio]

I think you supposed to add ban by government to your list as i always fear if government will ban bitcoin in future..

Exactly, this is one of the major problem of bitcoin, the acceptance of government. I will opposed to the topic that bitcoin wont last long,.so we all know that bitcoin had been used by a lot of people in a long period of time,how come it wont last long?

[Keeping Up]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

among this i am most afraid in the number 1 scenario.
and we cannot deny the fact that this is one of the biggest reason why cryptocurrency today is not being widely accepted yet.
people who have tried to enter into it were met by this fraudster.
and as a result this created a bad image for cryptocurrency nowadays.

[FedorIzmailov]

prohibition by the states bitcoin. Unfortunately, this problem can not be solved in any way, if bitcoin threatens the world financial economy, it will simply be banned

[Cody Blare]

 All blockchains are eternal systems. As long as in a point in time, there is one or more people to keep up the system, bitcoin will exist and this applies to other correctly put together crypto’s. If there ever was a solution to be able to reincarnate a thousand years from now and be able to access your coins, this is likely the current best solution to secure that.
 That is the theory at least. There is no sell by date on your coins.

[Edward Wilkins]

 I believe Bitcoin will survive in the long term unless a vastly better technology replaces it.
 I see absolutely zero threat to Bitcoin from a government or bank controlled “cryptocurrency”. The government already has a digital currency that it controls called the dollar. The thing Bitcoin provides that people see as so beneficial is it’s lack of centralized control. The centralized control aspect of currencies IS the part that people who use Bitcoin are trying to escape from. Believe it or not there are quite a few Bitcoin enthusiasts, including prominent ones in the public, who would like to see governments ban the use of Bitcoin because they believe this will help to strengthen Bitcoin as an alternative.

[Ike.daniel]

Believe it or not, Bitcoin is the future currency, and it has definitely come to stay

[btcdevil]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

This are not the disadvantages but they are the advantages of which Bitcoin has become so famous.

1)If you tell about scam and fraud then even it happens in fiat world,
2)fiat/precious metals are also used in black market.
3)Even in equity market the price is fluctuating high
4)No charge-backs or refunds is the main quality that can prevent scam like what in paypal is happening it.
5)It can happen but even then bitcoin will be king as other superior coin will be controlled by developer
6)This point can be disadvantage
7)About widely acceptance then after some years it will become the main stream payment system for online business.
8)Loosing wallet is the fault of users negligence.
9)Till now their is no technical flaws and it will be cleared even if in future it happens.
10)That is the main benefit of not in physical form so that it cannot be duplicated like it happens in fiat currency.

So i think you will be getting your answers to your query's. Which can help you and your friend to know much about bitcoin and its technology.

[nicko122]

Minuses can be found anywhere, not just in bitcoin. Everywhere there are positive and negative sides. And on account of the fact that bitcoin will not last long, so he has already stretched a very long time and still hold onto the market for a very long time

[Saripondso]

No, you'rea wrong. Bitcoin will last long because of its potential. I believe in bitcoin's future

[anume123]

My problem is I buy bitcoin i'm always afraid i dont even know why if i buy the price of bitcoin will go down so once I'm always incapable for holding bitcoin for a long time.

[tadpole_bitfrog]

 I am always afraid of fraud and no compensation. That is what I worry about when investing. I'm not afraid of my portfolio making me capital loss, I just worry about the safety of the altcoins. But that problem was solved by Ledger hard wallet. It makes me feel safer.

[colvis]

Exceptionally decent clarification for every last point raised by the operation. Answer to No 8: made me snicker (So can be your significant other) Grin

Be that as it may, one point raised by the operation is No. 5 substitution of bitcoin by some better crypto. In spite of the fact that I concur with your answer that bitcoin can overhaul it's product and go after it's matchless quality. Be that as it may, If some other shape other than cryptographic money happens then certainly it will be the finish of bitcoin. At present minute we can not envision some other predominant type of money. In any case, it was the situation when at the season of progress of bartar exchange to money framework no body could have envisioned that there will be one time after a few years that some computerized cash will supplant coins/paper cash yet we are seeing it happening now. Fiat money is being supplanted by crypto might be something unique supplant crypto in future

[Limsam]

I get what you mean but for me bitcoin will never end. You can see that bitcoin is not easy to die even now or in the future

[ubercool]

The only thing am afraid of is having a stupid government which will take the dumbest of steps to regulate cryptocurrencies. Like what India did with carpet ban on exchanges not to use banks for fiat transactions..

[KingScorpio]

10: No Physical Form

others are ok but that one is horrible,

anyone can have a physical form using a hardware wallet

[Sithawaka]

After surfing through the good side of BItcoin I was asked to give reasons why bitcoin won't last by a friend I searched through the web and found the following

1: Exposure to Bitcoin-Specific Scams and Fraud.
2: Black Market Activity May Damage Reputation and Usefulness.
3: Susceptible to High Price Volatility.
4: No Chargebacks or Refunds.
5: Potential to Be Replaced by Superior Cryptocurrency.
6:Environmental Ills of Bitcoin Mining.
7: Bitcoins Are Not Widely Accepted.
8: Wallets Can Be Lost.
9: Risk of Unknown Technical Flaws
10: No Physical Form

Guess what non of those mentioned above was big enough to discourage my friend from joining Cryptocurrency (buying bitcoin).

Which of the following disadvantages are you afraid of and how do you think it can be resolved

My major concern is nothing about bitoin but its greedy users because even bitcoin main mission to become the most commonly used international cryptocurrency to help its user's to do on line transactions without any barriers and also without additional transaction fees today no one use it for such reasons and that is why we don't see bitcoin is used often as a means of payment so its capabilities are wasting without and I think if this continues it will become no use to real tasks and eventually world will neglect bitcoin from using in the future